Latest news with #CentralBankofIndia
Time of India
4 hours ago
- Business
- Time of India
Vedanta Aluminium signs financing MoU with Central Bank of India for MSME customers
Vedanta Aluminium has signed a Memorandum of Understanding (MoU) with the Central Bank of India to provide collateral-free financing to its downstream customers, primarily Micro, Small, and Medium Enterprises (MSMEs), through its unit Bharat Aluminium Company (BALCO) . The partnership will offer working capital loans ranging from ₹10 lakh to ₹10 crore, with minimal documentation requirements and industry-competitive interest rates. The loan programme will be delivered through Vedanta Metal Bazaar, an online platform for aluminium products, allowing customers to access financing options along with real-time invoice tracking and lien marking. Digital platform integration and loan terms Vedanta Metal Bazaar will host the financing facility digitally. Customers will receive standard repayment terms of 90 days with a 15-day grace period. The programme includes API-based services for faster loan disbursals and process transparency. Currently, more than 100 customers use financing services through the platform with four existing partner banks. The addition of the Central Bank of India, with its extensive national network, is expected to widen the reach of this initiative. Rajiv Kumar , CEO, Vedanta Aluminium, said, 'Our partnership with Central Bank of India marks a pivotal step in strengthening the aluminium value chain by making working capital more accessible and affordable for MSMEs who form the backbone of India's manufacturing and industrial ecosystem. By enabling greater financial liquidity, we are not only empowering our customers to scale efficiently but also accelerating the development of a robust downstream sector. 'With more than 60% of our downstream clientele comprising MSMEs, this initiative will unlock new avenues for business expansion and competitiveness. It aligns with our vision of building a self-reliant, competitive, and future-ready aluminium industry that contributes meaningfully to India's economic growth, employment generation, and global manufacturing leadership.' Vedanta Metal Bazaar currently offers over 750 product variants including ingots, billets, wire rods, primary foundry alloy, rolled products, and Restora (a low-carbon aluminium variant). The platform also features AI-based price discovery and is accessible via web and mobile applications. Vedanta Aluminium, a division of Vedanta Limited, produced 2.42 million tonnes of aluminium in FY25, accounting for more than half of India's total output.
Business Standard
10 hours ago
- Business
- Business Standard
ICRA upgrades ratings of Central Bank of India to 'AA-' with 'stable' outlook
Central Bank of India said that the credit rating agency ICRA has upgraded its long-term rating on the bank to '[ICRA] AA- (Stable)' from '[ICRA] A+ (Positive)'. ICRA stated that the upgrade in the long-term ratings of Central Bank of India (CBI) factors in the sustained improvement in itssolvency1 profile, capital position and profitability levels, in line with ICRAs expectations. The banks asset quality also improved with the reduction in the fresh non-performing advances (NPA) generation rate and the legacy stressed assets. Though the bank increased its provision coverage ratio (PCR) and undertook additional provisioning on the standard restructured book, credit costs declined, leading to higher profitability in FY2025. CBIs capital profile was further strengthened by the capital raise of Rs. 1,500 crore in FY2025. The ratings continue to factor in CBIs sovereign ownership, with the Government of Indias (GoI) shareholding at 89.27%, as well as the demonstrated capital support over the years. Moreover, with the higher provision on legacy stressed assets, the overall net NPAs (NNPAs) remained on a downward trajectory. CBIs dependence on capital from the GoI in the near term remains limited, though the impact of the transition to provisioning based on the expected credit loss (ECL) framework will remain monitorable. Further, the ratings continue to consider CBIs well-established deposit franchise with a robust current account and savings account (CASA) base that also augments its strong liquidity profile, leading to a competitive cost of interest-bearing funds in relation to the public sector banks (PSB) average. ICRA notes that CBIs profitability has been supported by healthy recoveries from its stressed assets (including written-off accounts). Its ability to maintain the same, while keeping the fresh NPA generation rate in check, would be key for profitability. Central Bank of India is a mid-sized public sector bank (PSB) and the eighth largest, in terms of assets, among PSBs. It had a market share of 1.5% in advances and 1.8% in deposits in the Indian banking sector as on 31 December 2024. For the year ended 31 March 2025, CBI reported a profit of Rs. 3,785 crore on a total asset base of Rs. 4.75 lakh crore compared to a net profit of Rs. 2,549 crore on a total asset base of Rs. 4.42 lakh crore for the year ended 31 March 2024. The scrip shed 0.40% to currently trade at Rs 40.19 on the BSE.
Hans India
12 hours ago
- Business
- Hans India
Central Bank of India Apprentice Recruitment 2025: 4500 Vacancies, Apply by June 23
The Central Bank of India is inviting applications for Apprentice positions in 2025. A total of 4,500 vacancies are available in branches across India. Important Dates: Last date to apply is 23 June 2025 Last date to pay the application fee is 25 June 2025 Tentative exam date: First week of July 2025 Apply online at: Educational Qualification: Candidates must have a graduate degree in any subject from a university recognised by the Government of India. Age Limit: Age should be between 20 and 28 years as of 31 May 2025 Candidates must be registered on the NATS (National Apprenticeship Training Scheme) portal Engagement Period: The apprenticeship will be for a period of 12 months only. Application Fee (including 18% GST): Category Fee PwBD ₹400 SC / ST / Women / EWS ₹600 All Other Candidates ₹800 The fee is non-refundable and must be paid online only. Selection Process: The selection process includes an online written exam conducted by the BFSI Sector Skill Council. After the exam, there will be a test in the local language of the applicant's state. A list of provisionally selected candidates will be posted on the Central Bank of India and BFSI SSC websites. Important Notes: Candidates should read the full official notification before applying. Applications submitted after the last date will not be accepted.
India Today
a day ago
- Business
- India Today
4500 apprenticeship positions vacant at Central Bank of India. Check details
The Central Bank of India Apprentice Recruitment 2025 process has begun and applications for 4500 posts. To apply, candidates must hold a graduate degree in any discipline from a recognised university approved by the Government of must be between 20 and 28 years of age as of May 31, 2025, and must also be registered on the NATS portal (National Apprenticeship Training Scheme).advertisementThe last date to apply is June 23, 2025, and the fee must be paid by June 25, 2025. The online examination is tentatively scheduled for the first week of July BANK OF INDIA APPRENTICE RECRUITMENT: HOW TO APPLYVisit to the recruitment/career sectionRegister and fill in the application formPay the applicable feeSubmit before June 23, 2025 Direct link to apply for Central Bank of India Apprentice Recruitment 2025CBI APPRENTICE RECRUITMENT 2025: SELECTION PROCESSOnline exam by the BFSI Sector Skill CouncilLocal Language Test based on the state you apply inThe final list will be published on the bank and BFSI websitesCBI APPRENTICE RECRUITMENT 2025: FEESThe application fees are category-based and must be paid online. The total fee, including 18% GST, is 472 for PwBD candidates, 708 for SC/ST/Women/EWS candidates, and 944 for all other engagement period for the selected apprentices will be 12 months.
Scroll.in
a day ago
- Business
- Scroll.in
CBI Apprentice registration 2025 begins for 4500 posts; here's how to apply
The Central Bank of India (CBI) has invited online applications from eligible candidates for the Engagement of Apprentices under Apprentices Act, 1961 for F.Y. 2025-26. Eligible candidates can apply for the posts on the official website till June 23, 2025. The last date to pay the fee is June 25, 2025. The exam is tentatively scheduled to be conducted in the first week of July 2025. The recruitment drive aims to fill 4500 vacancies for a period of 12 months. Candidates can check the vacancy details, age limit, educational qualification, and other details available in the notification below: Here's the official notice. Steps to apply for Apprentice posts 2025
